Donald Trump just said he “loves” something most Americans can’t stand right now. The president responded to new inflation data showing prices surging to their highest level in three years.
Donald Trump comments on inflation amid rising rates
According to NBC News, President Donald Trump responded to rising inflation data by embracing the economic figures on Wednesday. The annual inflation rate in May jumped to 4.2%, up from 2.4% a year ago. That marks the highest rate since early 2023. Trump told reporters he welcomed the numbers despite their sharp increase.
“The numbers were great. You know what I really love? I love the inflation. You know why? Because as soon as this war is over … when the war is over, it’s coming down, it’s going to come down like a rock,” Trump said. He referenced U.S. efforts to move oil ships through the Strait of Hormuz during the Iran conflict.
Democrats quickly criticized his remarks. Senate Minority Leader Chuck Schumer and Sen. Elizabeth Warren accused him of ignoring rising costs for Americans. Trump later told the New York Post his words were taken out of context. He argued “the numbers are much lower than anticipated” and predicted prices would drop after the war ends.
The Bureau of Labor Statistics also reported on wage data on Wednesday. Real average weekly earnings fell 0.2% last month. They also declined 0.7% from a year ago, marking the largest annual drop since February 2023. Inflation outpaced wage growth for the second consecutive month.
House Speaker Mike Johnson defended Trump, saying the comment was taken “totally out of context.” He acknowledged gas prices remain a pain point for Americans. Trump had previously stated he is not thinking about Americans’ finances “even a little bit” amid Iran peace negotiations. He called that remark a “perfect statement” days later. NBC News polling from April showed just 32% of Americans approved of Trump’s handling of inflation. Meanwhile, 68% disapproved, with respondents citing the economy as their top concern.
Originally reported by Vritti Johar on Mandatory.com.
